MHP considers purchasing farmland in Ukraine, CFO Kapelyushnaya

The agro-industrial holding Myronivsky Hliboproduct (MHP) is concerned about purchasing farmland after the moratorium on the sale of agricultural land is lifted, Ukranews report.

"Will we be the player who buys land? More like yes. We will see what the prices will be," said Viktoria Kapelyushnaya, Executive Director and Chief Financial Officer of MHP.

In this respect, she stated that no starting high demand for sale of plots by villagers is expected. According to the statement, MHP welcomes the opening of the land market and sees such a step as necessary for the development of the industry.

According to MHP's CFO, currently 25% of EBITDA (earnings before interest, taxes, depreciation, and amortization) falls on the agricultural sector.

Viktoria Kapelyushnaya added that the company was in the process of selling the Snyatynska poultry farm and the balances of its products.

"Its contribution to our EBITDA is less than 1%, thus we can't expect much value from this factory," said Viktoria Kapelyushnaya.

In H1 2019, MHP revenue reached USD 946 mln, having increased by 36% year-on-year (H1 2018: USD 694 mln).